Business
Wishpond Announces Closing of Sale of Viral Loops for $2.3 Million
Wishpond Announces Closing of Sale of Viral Loops for $2.3 Million Canada NewsWire ...
About this update from Wishpond Technologies Ltd.
[{"type":"text","content":"\n\n\nWishpond Announces Closing of Sale of Viral Loops for $2.3 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nVANCOUVER, BC, March 10, 2026 /CNW/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the \"Company\" or \"Wishpond\"), a provider of AI-enabled marketing-focused online business solutions, announces that it has closed its previously announced sale of its Viral Loops product and related assets (\"Viral Loops\") to Emerge Commerce Ltd. (\"Emerge\") for total cash consideration of $2,300,000 (the \"Transaction\") effective March 9, 2026.\n\n\n\n\n\n\n\nUnder the terms of the Transaction, Wishpond received $2,100,000 paid at closing, with the remaining $200,000 payable on the one-year anniversary of closing. Viral Loops is a referral marketing campaign software platform originally acquired by Wishpond in April 2022.Wishpond has applied approximately $1.6 million of the proceeds toward repayment of its senior credit facility, representing a significant reduction in the Company's outstanding indebtedness and improving its financial flexibility. The remaining proceeds will support ongoing working capital requirements.Ali Tajskandar, Chairman and CEO of Wishpond, commented:\"Closing the sale of Viral Loops represents an important step in strengthening Wishpond's balance sheet and enhancing our financial flexibility. By reducing debt and reallocating capital toward our core AI-driven marketing platform, we are positioning the Company to focus on innovation and long-term growth across our integrated product suite.\"Viral Loops was operated as a standalone referral marketing platform within Wishpond's broader product ecosystem. The divestiture of the Viral Loops assets is not expected to materially impact the Company's core AI-enabled marketing and sales platform or its broader strategic initiatives.In connection with the Transaction, Wishpond has entered into a forbearance agreement with its senior lender, National Bank of Canada, pursuant to which the lender has agreed to forbear from exercising certain rights under the Compan...